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Jan 29, 2012
01/12
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economy is not built on exports. japan's economic rise on the other hand has been almost entirely powered by exports. so what has changed in japan? the japanese government would like to blame one-off events. last year's earthquake and tsunami crippled factories and shut down nuclear energy reactors. the off shoot of that was decreased economic output. plus, they needed import expensive oil from the middle east. natural disasters have only highlighted and accelerated existing trends in japan. a decline in competitiveness and an aging work force. china and other ease asian country with make cheaper products and in greater quantities. add to that a rising yen, and japan's exporters have been at a disadvantage globally. it doesn't make sense to manufacture in japan. add to this japan's demographics. between 1990 and 2007 japan's working population dropped from 86 million to 83 million. at the same time americans between the ages of 15 and 64 rose from 160 million to 200 million. in a global marketplace this is a major ha
economy is not built on exports. japan's economic rise on the other hand has been almost entirely powered by exports. so what has changed in japan? the japanese government would like to blame one-off events. last year's earthquake and tsunami crippled factories and shut down nuclear energy reactors. the off shoot of that was decreased economic output. plus, they needed import expensive oil from the middle east. natural disasters have only highlighted and accelerated existing trends in japan. a...
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Dec 2, 2012
12/12
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it's the economy at heart. according to leading daily only 57% of national taxes paid by catalon is returned. the lest is filtered to spain. the scotts believe that breaking away now would rid them of london's us a tausterity plans. they are careful to calculate the costs and benefits. last year scotts were polled on how they view independence. if independence made them worse off the results flipped. 500 pounds the only about 800 u.s. dollars. adam smith, a scott, if we apply that logic in america states could point out they subsidize states like alabama, mississippi and montana. states that are the most fervent advocate of states rights and small government. we'll take you to one of africa's most trouble ed nation next. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never bee
it's the economy at heart. according to leading daily only 57% of national taxes paid by catalon is returned. the lest is filtered to spain. the scotts believe that breaking away now would rid them of london's us a tausterity plans. they are careful to calculate the costs and benefits. last year scotts were polled on how they view independence. if independence made them worse off the results flipped. 500 pounds the only about 800 u.s. dollars. adam smith, a scott, if we apply that logic in...
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May 13, 2012
05/12
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those are the very big economies. those are the economies that had been undertaking some very strong fiscal reforms and structural reforms, but it's devilishly difficult to do in a no growth environment, and i think part of the question will be whether their european partners will figure out some ways to sort -- -- support them with the politics. >> from your time in the world bank, what do you think is the answer? i'm going to ask you a big question. what do you think is the answer to overcoming poverty? if you were given a poor country and told bob zellik, you have to make this country develop and grow, what's the answer? >> well, growth is still the best anecdote for poverty, but one of the things we've learned over the years is growth alone isn't enough, so we try to talk about inclusive growth so, that means you need all the components. you need the environment for private sector investment. you need the opportunity for creating jobs through companies, but at the same time what inclusive growth means to me is tha
those are the very big economies. those are the economies that had been undertaking some very strong fiscal reforms and structural reforms, but it's devilishly difficult to do in a no growth environment, and i think part of the question will be whether their european partners will figure out some ways to sort -- -- support them with the politics. >> from your time in the world bank, what do you think is the answer? i'm going to ask you a big question. what do you think is the answer to...
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Jun 10, 2012
06/12
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they may be in the cash economy off the books but they work. america is not a place to come, put your feet up and just take welfare. it's a very competitive place. if that's what you want to do, you should stay home, wherever home is. >> bloomberg says the undocumented don't use public schools, because they usually leave their kids in their home country, and they don't use health care much because they tend to be young and healthy. and to top it all, he notes about 75% of new york city's undocumented immigrants pay taxes. >> employers withhold and then the government says this guy didn't earn enough, we have to send a refund. to where? the documentation doesn't exist or is fraudulent. >> that certainly defies conventional wisdom. you'll also hear from someone who strongly disagrees with the mayor. in the special, we go to japan, the european union and, as you're about to see, to an unlikely immigration epicenter, calgary, alberta, canada. if you have never been to calgary, you might know it for its annual stampede. ten days of cowboys. rodeos.
they may be in the cash economy off the books but they work. america is not a place to come, put your feet up and just take welfare. it's a very competitive place. if that's what you want to do, you should stay home, wherever home is. >> bloomberg says the undocumented don't use public schools, because they usually leave their kids in their home country, and they don't use health care much because they tend to be young and healthy. and to top it all, he notes about 75% of new york city's...
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secondly, the economy has been churning up. if you look at the project ebbings for next year from cbo which takes an aing gat, that's not expected to continue. there's expected -- who knows if they know what they're talking about. unemployment will shoot back up in the higher 8s or 9 maybe. i think obama would be foolish given what's happening in iran or in greece and europe to assume that he can just coast on a rising economy, and i don't think the campaign really expects that either. >> before we go, since we have you david, i want to ask you about russia. it seemed as though there was in no question that putin was assured victory, that things were going to go smoothly, that there was a few interesting disents here and there. you are hearing more and more of them. is there anything going on in russia that makes you think that you could actually see the beginnings of social -- >> i think that putin will rough it out and win, and to me the question is to what degree does he come back into office, if he ever left it, as presiden
secondly, the economy has been churning up. if you look at the project ebbings for next year from cbo which takes an aing gat, that's not expected to continue. there's expected -- who knows if they know what they're talking about. unemployment will shoot back up in the higher 8s or 9 maybe. i think obama would be foolish given what's happening in iran or in greece and europe to assume that he can just coast on a rising economy, and i don't think the campaign really expects that either. >>...
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Sep 30, 2012
09/12
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what is your sense of the american economy? there are some signs that the economy is actually beginning to recover. housing is back. but yet the actual gdp numbers don't seem to move much. what do you think? >> there are some good sighs. housing has moved back a little bit. we've had a boon in energy. so -- and consumers have paid down a lot of debt. the bad side is there's an increasing government debt at the state and federal level. if you think back in 1982 this was a large outcry when the national debt passed 1 trillion. we're now adding 1 trillion per euro. soon the interest of the national debt could equal the whole amount in 1982 when you and i were here. i think it's a huge problem and a real problem. i'm hopeful that when the government forms that cob will address this problem. we've had such a polarized cob. that's part of the whole problem. the president can onto do so much. 've got to get congress in involved. the roadmap doesn't cut it down entirely. what i love about bain capital, we had republicans, democrats. re
what is your sense of the american economy? there are some signs that the economy is actually beginning to recover. housing is back. but yet the actual gdp numbers don't seem to move much. what do you think? >> there are some good sighs. housing has moved back a little bit. we've had a boon in energy. so -- and consumers have paid down a lot of debt. the bad side is there's an increasing government debt at the state and federal level. if you think back in 1982 this was a large outcry when...
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Apr 8, 2012
04/12
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woo economy would recover nicely in 2012. i'm returning to that topic with some preliminary good news. if you look around the industrialized world, the u.s. economy is the most promising of the bunch. the american recovery is not as vigorous as one might hope, but it is remarkably broadbased. manufacturing is up, including for the first time in 30 years nontechnology manufacturing. retail sales are up. consumer confidence and spending are growing. consider sales are up. the stock market reflects this. >> two areas of the economy that continue to lag are jobs and housing. both critical areas. generating economic growth and profits continues to be easier than creating jobs as this week's data showed. housing, for its part, has traditionally led every recovery since world war ii. this time it hasn't because of the bursting of the housing bubble and the problems associated with mortgages and housing debt. at some point that will end. the united states alone in the industrialized world is demographically dynamic. kids don't want t
woo economy would recover nicely in 2012. i'm returning to that topic with some preliminary good news. if you look around the industrialized world, the u.s. economy is the most promising of the bunch. the american recovery is not as vigorous as one might hope, but it is remarkably broadbased. manufacturing is up, including for the first time in 30 years nontechnology manufacturing. retail sales are up. consumer confidence and spending are growing. consider sales are up. the stock market...
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if the economy doesn't recover, people are going to hold the party responsible. >> we'll be right back. i'm going to ask him what his lesson from the last election is, what he took from it, and also some thoughts on foreign policy, when we come back. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. with odor free aspercreme. power
if the economy doesn't recover, people are going to hold the party responsible. >> we'll be right back. i'm going to ask him what his lesson from the last election is, what he took from it, and also some thoughts on foreign policy, when we come back. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary...
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Jun 17, 2012
06/12
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and the economy got worse, not better. in fact, the years 2000 to 2007 were the period of weakest job growth in the united states since the great depression. now, look. tax cuts can stimulate growth, especially when you go from, say, 70% rates to 30% rates, as ronald reagan did. but a cut of a few percent from a reasonably moderate base or a temporary waiver of some small tax provision is highly unlikely to unleash lasting growth. what it will do is explode the deficit. for four decades, washington politicians have bought popularity by cutting taxes. always saying that spending cuts or growth will make up for the lost revenue. that never happened, and the result is $11 trillion in federal debt held by the public. and finally, now this week, democrats have been busily defending public sector unions. public sector unions are big backers of the democratic party, but their retirement benefits are, in fact, bankrupting states and localities across the country. california's total pension liabilities are now 30 times the size of
and the economy got worse, not better. in fact, the years 2000 to 2007 were the period of weakest job growth in the united states since the great depression. now, look. tax cuts can stimulate growth, especially when you go from, say, 70% rates to 30% rates, as ronald reagan did. but a cut of a few percent from a reasonably moderate base or a temporary waiver of some small tax provision is highly unlikely to unleash lasting growth. what it will do is explode the deficit. for four decades,...
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the book is about how to get the economy to groe faster. that growth in the long run is powered by innovation and risk taking and part of what the book argues is that the payoffs for risk taking are essential to getting more risk taking in this economy, and that that's good for the middle class and the working poor. >> so you want -- you want people to invest, take risks with their capital so that you spur innovation? >> yes. although i think the economy has changed significantly from where it was in the 1950s when capital investment to build an automotive industry and a highway system were essential to growth to one today where 13 guys and a computer can create instagram, and it's powered more by risk taking than it is by the funding of investment. >> let me ask you about the kind of alternate view, let's say, that somebody like robert reich would present, which is the problem with our economy has become that because of this inequality, what you have is enormous gains going to the top 1%, and that they can't consume all that much. you can'
the book is about how to get the economy to groe faster. that growth in the long run is powered by innovation and risk taking and part of what the book argues is that the payoffs for risk taking are essential to getting more risk taking in this economy, and that that's good for the middle class and the working poor. >> so you want -- you want people to invest, take risks with their capital so that you spur innovation? >> yes. although i think the economy has changed significantly...
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Nov 11, 2012
11/12
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that's where you trade, that's where the world economy operates. the sea base trade has been organizing the world economy for a very long time. >> if people would live a little further away from the actual water than they do now -- >> there may be particular zoning issues, to be sure, but we should understand, city after city, great cities around the world are on the coast. i think the point is there's no way we're going to beat this just through adapting to the changes. we are on a path of raising the impacts so powerfully, so frighteningly, that if we don't get the climate change itself under control, i don't think we'll ever catch up through patching, through these kinds of solutions, through emergency response. everywhere that i've been in recent weeks, that's usually a lot for me as i'm traveling around the world. nigeria recently. massive floods when i got there. i was in bangkok recently. i was remembering the one-year anniversary of the devastation of bangkok when the whole city basically was under water and the economy took a terrible hit.
that's where you trade, that's where the world economy operates. the sea base trade has been organizing the world economy for a very long time. >> if people would live a little further away from the actual water than they do now -- >> there may be particular zoning issues, to be sure, but we should understand, city after city, great cities around the world are on the coast. i think the point is there's no way we're going to beat this just through adapting to the changes. we are on a...
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Mar 18, 2012
03/12
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interest rates the british economy needs to allow the recovery to take hold. so i think it would be a big mistake if britain backed off the credibility its earned in the international markets. >> but you know there are people very serious economic commentators like martin wolf who say you had no trouble borrowing money going into your government and that by cutting government spending, you've actually reduced economic growth which, in turn, has led to lower tax revenues which, in turn, has led to a deficit projection than you might have had. many people look at britain as a test case of too much austerity too soon. >> well, i don't agree with that analysis. i guess that wouldn't surprise you. i would say we had to earn our credibility out there in international markets when i became the chancellor. we had the same interest rates as italy and spain. you can see what's happened to those countries, actually a little better in the last few weeks, but nevertheless interest rates markedly higher than the united kingdom has. so the idea that somehow britain could hav
interest rates the british economy needs to allow the recovery to take hold. so i think it would be a big mistake if britain backed off the credibility its earned in the international markets. >> but you know there are people very serious economic commentators like martin wolf who say you had no trouble borrowing money going into your government and that by cutting government spending, you've actually reduced economic growth which, in turn, has led to lower tax revenues which, in turn,...
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May 6, 2012
05/12
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we will start with the economy. >>> america's economy is looking somewhat better. europe's is looking a lot worse. request the euro bring the dollar down with it? >>> then a defense of the 1% and comes from one of mitt romney's former partners who defends the equality. >>> next up, the great historian robert carole on the president he has spent almost 40 years studying and writing about. why lyndon baines johnson could get things done in washington and the lessons for today. >>> and is china changing from a company into a country? i'll explain. >>> first, here's my take. whatever you thought of president obama's speech on afghanistan this week, it is now increasingly clear that the united states is winding down its massive military commitments to the two wars of the last decade. we are out of iraq and we will soon largely be out of afghanistan. osama bin laden is dead, al qaeda is a shadow of its former self. threats remain, but they are being handled using special forces and intelligence. so finally, after a decade, we seem to be right-sizing the threat from terro
we will start with the economy. >>> america's economy is looking somewhat better. europe's is looking a lot worse. request the euro bring the dollar down with it? >>> then a defense of the 1% and comes from one of mitt romney's former partners who defends the equality. >>> next up, the great historian robert carole on the president he has spent almost 40 years studying and writing about. why lyndon baines johnson could get things done in washington and the lessons for...
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Mar 11, 2012
03/12
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israelis today are actually very worried about the economy in their country. especially after the last summer we had huge protests in the streets for the high cost of living, and netanyahu, you know, tried to calm down the things, but the prices of living are becoming very high. iranian issue is not the first concerns of the israelis today. >> would you agree that most israelis -- do you think -- i think what you are saying is that in a way netanyahu is trying to change the subject from a topic where israelis are really concerned, which is social unrest. >> this is a fantastic distraction issue. both in terms of domestic, social, and economic issues and, of course, in terms of internationally the palestinian issue. for an israeli leader to come to the united states, make a load of speeches, not mention the palestinians, a dramatic success in his terms for his right wing coalition. this is top-down driven. not bottom-up. inside israel. the kind of speech that the prime minister gave in washington, holocaust analogies, everywhere, he hasn't made that speech in t
israelis today are actually very worried about the economy in their country. especially after the last summer we had huge protests in the streets for the high cost of living, and netanyahu, you know, tried to calm down the things, but the prices of living are becoming very high. iranian issue is not the first concerns of the israelis today. >> would you agree that most israelis -- do you think -- i think what you are saying is that in a way netanyahu is trying to change the subject from a...